Philadelphia banks resume specie payments

Philadelphia banks resumed specie payments after almost four months.  Financial disruption following the general election had resulted in them being suspended in the city on November 22, 1860.  In the following months, however, bankers abroad, particularly in Britain, shipped large amounts of gold to the United States and by March the situation had eased.   (By John Osborne) 
Source Citation
Frank H. Taylor, Philadelphia in the Civil War (Philadelphia, PA: City of Philadelphia, 1913), 345.
Date Certainty
Exact
Type
Business/Industry
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